@inertiate building a new industrial policy is the only thing that can save America from a long, Argentina-style decline I think. goes beyond shipbuilding, but includes it. and doing industrial policy well is always hard, the odds are always against. it's a lot of what i write about lately. https://drafts.interfluidity.com/2024/09/04/income-driven-repayment-of-fixed-capital/index.html